Applying for CSP at the bank - lower requirement for bonus

I did a lot of research to try to figure out the best deal I could get from applying for the Chase Sapphire Preferred. Since the 50k points was already offered this year, I figured there wouldn't be any better deals than the 40k anytime soon. I was on the fence because while I was pretty sure I could spend the $3k in 3 months, I also did just spend a lot of money on a wedding and am trying to save. Long story short, I stopped by the Chase bank near my work to see if they had any other deals. I found out that if I applied at the bank, I would only have to spend $2,000 in 3 months to get the 40,000 bonus points, which I knew I could do.

I was pretty confident in my chances, so I went ahead and pulled the trigger. It's definitely not for everyone (fear of in person rejection, having to sit with the chatty clerk). The clerk told me that immediate approvals only happens about 10% of the time. Most of the time, I guess people get the standard wait for approval message (although like when applying online, I'm sure you can call to recon as soon as you leave the bank).

Fortunately, I was approved immediately with an $8,000 credit limit. I called later that day and asked to expedite the card because I am going out of town next weekend, and I wasn't sure with the Monday holiday that it would get to me in time otherwise. Got a friendly guy in Iowa who took care of it no problem.

Re: Applying for CSP at the bank - lower requirement for bonus

Congrats on the approval! The 10% figure is not accurate though, I don't want it to be misleading or discouraging. According to someone I know if you're pre-approved in the system before hand the approval % tends to be around 80-85% instant approval, 5-10% approval after speaking to an analyst. Very rarely will you be declined if you're pre-approved. If you're not pre-approved then it could be 50/50 depending on your credit profile, obviously if you're not a good candidate you'll most likely get declined but even if you're not pre-approved and you have a strong file, you stand a good chance of getting approved.

Re: Applying for CSP at the bank - lower requirement for bonus

I did a lot of research to try to figure out the best deal I could get from applying for the Chase Sapphire Preferred. Since the 50k points was already offered this year, I figured there wouldn't be any better deals than the 40k anytime soon. I was on the fence because while I was pretty sure I could spend the $3k in 3 months, I also did just spend a lot of money on a wedding and am trying to save. Long story short, I stopped by the Chase bank near my work to see if they had any other deals. I found out that if I applied at the bank, I would only have to spend $2,000 in 3 months to get the 40,000 bonus points, which I knew I could do.

I was pretty confident in my chances, so I went ahead and pulled the trigger. It's definitely not for everyone (fear of in person rejection, having to sit with the chatty clerk). The clerk told me that immediate approvals only happens about 10% of the time. Most of the time, I guess people get the standard wait for approval message (although like when applying online, I'm sure you can call to recon as soon as you leave the bank).

Fortunately, I was approved immediately with an $8,000 credit limit. I called later that day and asked to expedite the card because I am going out of town next weekend, and I wasn't sure with the Monday holiday that it would get to me in time otherwise. Got a friendly guy in Iowa who took care of it no problem.

For those of you who are curious, my info is below:

TU Fico: 776

EQ Fico: 794

Credit history: 9+ years

AAoA: 5 years, 9 months

Inquiries: 2

Utilization: <10% (varies a bit each month)

Citi Dividend World Mastercard: $20k limit

Bank Americard Cash Rewards: $7k limit

Nordstrom Store Card: $4k limit

A LOT of installments (student loans)

No derogatories

First new credit card in over 5 years

Steadily employed with decent salary

Since you have such a good credit profile I see you have the citi world dividend card you should call and try and get it upgraded to the world elite with the emv chip no credit check they just tell you if your eligible plus its a card that can not be applied for only offered or requested.

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